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WILC

G. Willi-Food International Ltd.

WILC

G. Willi-Food International Ltd. • NASDAQ
$25.53 ▲ 1.88% (+0.47)
Market Cap $354.42 M
52w High $26.26
52w Low $12.54
Dividend Yield 1.00%
P/E 12.27
Volume 13.33K
Outstanding Shares 13.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $152.849M ▼ $24.779M ▲ $19.177M ▼ 12.546% ▼ $1.38 ▼ $27.283M ▼
Q2-2025 $160.477M ▲ $23.421M ▼ $31.874M ▲ 19.862% ▲ $2.3 ▲ $44.024M ▲
Q1-2025 $144.843M ▲ $24.669M ▲ $19.505M ▼ 13.466% ▼ $1.41 ▼ $27.305M ▲
Q4-2024 $140.302M ▼ $22.77M ▼ $24.164M ▲ 17.223% ▲ $1.74 ▲ $-6.822M ▼
Q3-2024 $152.799M $24.385M $20.75M 13.58% $1.5 $29.932M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $68.221M ▼ $212.849M ▼ $20.745M ▼ $192.104M ▼
Q2-2025 $213.89M ▼ $707.635M ▼ $72.844M ▼ $634.791M ▲
Q1-2025 $233.99M ▼ $712.39M ▲ $109.344M ▲ $603.046M ▼
Q4-2024 $246.127M ▲ $686.38M ▲ $73.44M ▼ $612.94M ▲
Q3-2024 $225.699M $663.264M $74.47M $588.794M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $19.177M ▼ $36.24M ▲ $-5.468M ▼ $-20.405M ▲ $10.115M ▲ $26.79M ▲
Q2-2025 $31.874M ▲ $2.238M ▲ $6.919M ▲ $-30.361M ▼ $-22.536M ▼ $-6.463M ▲
Q1-2025 $19.505M ▼ $311K ▼ $-6.158M ▲ $-580K ▲ $-6.068M ▼ $-10.987M ▼
Q4-2024 $24.164M ▲ $26.851M ▼ $-13.252M ▲ $-809K ▼ $11.676M ▼ $11.782M ▼
Q3-2024 $20.75M $31.073M $-15.052M $-426K $16.29M $19.132M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last few years, showing that demand for Willi-Food’s products is moving in the right direction. Profitability dipped in the middle of the period as costs and currency headwinds weighed on results, but more recent figures show a clear rebound in both operating profit and net income. Margins are not extreme in either direction: they are reasonable for food distribution and have held up despite global cost and logistics pressures. Earnings per share have generally trended upward over time, with some bumps along the way, which signals a business that is growing but still exposed to swings in input costs and exchange rates. Overall, the income statement points to a stable, gradually expanding business with improving profitability after a softer patch, but not one that is immune to volatility in global food prices and shipping conditions.

Balance Sheet

Balance Sheet The balance sheet is conservative and appears to be a core strength. The company carries no financial debt and holds a solid cash position, which provides flexibility to invest and to absorb shocks. Equity makes up the vast majority of the capital structure, suggesting a cautious approach to leverage. Total assets have been broadly stable to slightly higher over time, and there is no sign of aggressive balance sheet expansion. This indicates growth has been funded largely from internal resources rather than borrowing. The combination of ample equity, cash reserves, and no debt gives the company room to navigate downturns, though it can also mean slower, more measured growth compared with more leveraged peers.

Cash Flow

Cash Flow Operating cash flow has been positive in each year, but it is relatively modest compared with revenue, reflecting the tight margins and working capital needs typical of food distribution. Cash generation improved recently versus the weaker years, which lines up with the recovery in profitability. Free cash flow has been generally positive, with the main recent exception being a period of heavier investment. The latest negative free cash flow is primarily due to higher capital spending, not a collapse in operating cash. That suggests management is reinvesting in the business, especially in infrastructure like the new logistics center, rather than struggling to generate cash. The key cash-flow question going forward is whether the large investments will translate into consistently stronger operating cash flow once the new facilities and capabilities are fully up and running.

Competitive Edge

Competitive Edge Willi-Food operates in a defensive sector—food distribution—with a focus on kosher products in Israel, a niche where it has built meaningful advantages. Its wide distribution network, reaching many chains and points of sale, creates a barrier for new entrants who would need years and significant resources to match that reach. Strong brand recognition in its core categories, especially through its own labels and exclusive brands, supports shelf space and customer loyalty. On top of that, its deep know-how in the kosher regulatory environment makes it harder for less experienced competitors to operate efficiently or at scale. However, this is still a competitive space, with pressure from other importers, private labels, and local producers. The company’s edge rests on maintaining its distribution relationships, service levels, and product relevance while managing cost and currency pressures better than rivals.

Innovation and R&D

Innovation and R&D The standout innovation is not a new type of food but a new way of moving food: the advanced logistics center in Yavne. This automated, technology-driven hub is designed to improve storage, reduce errors, and speed up distribution, especially for chilled and frozen products. If executed well, it could lower costs per unit, support more product variety, and even allow the company to offer logistics services to others. On the product side, the company differentiates through a broad and evolving range of kosher items, including specialty dairy products and exclusive international brands, sourced from many regions. This is more about commercial innovation—sourcing, branding, and category expansion—than heavy scientific R&D. Future innovation is likely to focus on expanding into higher-growth segments such as ready meals, plant-based, and health-oriented foods, and possibly new geographies. The main uncertainty is how quickly and successfully the company can turn these ideas into strong product lines and whether it will invest more deeply in data and technology beyond logistics to support that growth.

Summary

Overall, Willi-Food looks like a steady, niche-focused food distributor with a conservative financial base and a clear strategy centered on logistics excellence and product breadth. The income statement shows gradual growth and improving profitability after a period of margin pressure. The balance sheet is a clear positive, with no debt and meaningful cash, giving resilience and flexibility. Cash flows are solid but not spectacular, with recent free cash outflows driven mainly by investment rather than operational weakness. Competitively, the company benefits from its well-developed distribution network, recognized brands, and specialized kosher expertise, all of which are hard to replicate quickly. Its main bet for future growth is the new logistics infrastructure and continued expansion into higher-value and faster-growing product categories, along with potential geographic expansion. Key risks include exposure to global food prices, shipping disruptions, currency movements, and execution risk around the logistics center and new product launches. Key opportunities lie in using its upgraded logistics and sourcing strength to deepen its moat and capture more value in a stable, necessity-driven food market.

NEWS

November 17, 2025 · 6:00 AM UTC

G. WILLI-FOOD INTERNATIONAL REPORTS THE RESULTS OF THIRD QUARTER 2025

Read more